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Market Report

Wednesday, 21-June-2017

NSE

  • Domestic equity markets ended with small losses today following negative global cues. The S&P BSE Sensex lost 13.89 points, or -0.04 per cent, to end the session at 31,283.64 today, with Tata Motors being the top loser. The Nifty50 closed the session 19.90 points, or -0.21 per cent, lower at 9,633.60 today with ONGC being the major drag on the index and 34 constituents ending the session in the red.

  • The benchmark indices pared some intraday losses, but ended lower as investors waited for minutes of a June policy meet by the RBI to gauge the direction of interest rates in the months ahead. On the global front, muted trend seen in Asian markets following a renewed slump in oil prices to seven-month lows, also impacted the sentiment. Investors also decoded the impact of a decision by US index provider MSCI to add mainland Chinese stocks to one of its popular benchmarks.

  • After falling nearly 45 points in today's trade, NSE Nifty index pared some losses in the last leg of trade and settled 20 points lower. The index staged a smart recovery in the latter half of the session from its critical support of 9,600 levels forming a small black body 'Hammer' candle in the daily charts. The index has got stuck in a small trading range and has been consolidating in between 9,560 and 9,700 zones since the last 17 trading sessions. Now, it needs to give a decisive range breakout for the next leg of the rally to kick off. In the short term, it has immediate support at 9,580 and 9,550 levels, while resistances are seen at 9,680-9,700 levels.

NIFTY 3-Month

(Data/Charts courtesy NSEI/Yahoo!/iCharts/The Economic Times)